Marvell Technology (NASDAQ:MRVL) Price Target Raised to $102.00

Marvell Technology (NASDAQ:MRVL) had its price target lifted by Morgan Stanley from $82.00 to $102.00 in a report issued on Wednesday, MarketBeat Ratings reports. Morgan Stanley currently has an equal weight rating on the semiconductor company’s stock.

A number of other analysts also recently issued reports on MRVL. Needham & Company LLC restated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Wells Fargo & Company lifted their price target on shares of Marvell Technology from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Rosenblatt Securities increased their price objective on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Monday, December 2nd. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $119.04.

Marvell Technology Stock Up 0.1 %

Shares of NASDAQ:MRVL opened at $113.51 on Wednesday. Marvell Technology has a 1 year low of $50.56 and a 1 year high of $119.88. The company has a market capitalization of $100.59 billion, a PE ratio of -66.77, a price-to-earnings-growth ratio of 4.15 and a beta of 1.46. The business has a fifty day moving average price of $86.09 and a two-hundred day moving average price of $75.57. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Insider Activity

In related news, insider Muhammad Raghib Hussain sold 150,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the transaction, the insider now owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This represents a 17.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $73.87, for a total value of $110,805.00. Following the sale, the chief financial officer now directly owns 111,753 shares of the company’s stock, valued at approximately $8,255,194.11. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 267,000 shares of company stock worth $20,899,260. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Citizens Financial Group Inc. RI grew its holdings in shares of Marvell Technology by 1.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock valued at $566,000 after purchasing an additional 116 shares during the last quarter. Crumly & Associates Inc. boosted its position in Marvell Technology by 1.5% during the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock valued at $593,000 after buying an additional 121 shares during the period. United Capital Management of KS Inc. grew its stake in shares of Marvell Technology by 0.4% during the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after buying an additional 131 shares during the last quarter. Tlwm increased its holdings in shares of Marvell Technology by 1.6% in the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after buying an additional 136 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its stake in shares of Marvell Technology by 1.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock valued at $716,000 after acquiring an additional 139 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Company Profile

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.